Section 404-H:15 – Tax Exemption.
404-H:15 Tax Exemption. – The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions except taxes levied on real or personal property. Source. 2004, 197:1, eff. Aug. 6, 2004.
Section 404-H:16 – Recognition of Assessments in Rates.
404-H:16 Recognition of Assessments in Rates. – I. The rates and premiums charged for insurance policies to which this chapter applies may include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association. Such rates […]
Section 404-H:17 – Immunity.
404-H:17 Immunity. – There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer, the association or its agents or employees, the board of directors, or any person serving as a representative of any director, or the commissioner or his or her […]
Section 404-H:2 – Purpose.
404-H:2 Purpose. – The purpose of this chapter is to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and to the extent provided in this chapter minimize financial loss to claimants or policyholders because of the insolvency of an insurer, and to permit […]
Section 404-H:3 – Scope.
404-H:3 Scope. – This chapter shall apply to insurers with orders of liquidation with findings of insolvency that are first entered after the effective date of this chapter and shall apply to all kinds of direct insurance, but shall not be applicable to the following: I. Life, annuity, health, or disability insurance; II. Mortgage […]
Section 404-H:4 – Construction.
404-H:4 Construction. – This chapter shall be liberally construed to effect the purpose under RSA 404-H:2 which shall constitute an aid and guide to interpretation. Source. 2004, 197:1, eff. Aug. 6, 2004.
Section 404-H:5 – Definitions.
404-H:5 Definitions. – In this chapter: I. " Account " means any one of the 3 accounts created by RSA 404-H:6. II. " Affiliate " means a person who directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with another person. III. " Affiliate of the […]
Section 404-H:6 – Creation of the Association.
404-H:6 Creation of the Association. – There is created a nonprofit unincorporated legal entity to be known as the New Hampshire Insurance Guaranty Association, that shall be the same association created under RSA 404-B:6. All insurers defined as member insurers in RSA 404-H:5, XI shall be and remain members of the association as a […]
Section 404-H:7 – Board of Directors.
404-H:7 Board of Directors. – I. The board of directors of the association shall consist of not less than 5 nor more than 9 persons serving terms as established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies on […]
Section 404-H:1 – Title.
404-H:1 Title. – This chapter shall be known and may be cited as the New Hampshire Insurance Guaranty Association Act of 2004. Source. 2004, 197:1, eff. Aug. 6, 2004.